Singapore’s retail sales growth eased more than expected in July, according to a report released by Statistics Singapore.
Retail sales dropped 0.2% month-over-month in July following 1.1% decline in June. Core retail sales, excluding motor vehicle sales, declined 1.3% in July.
During the period, sales of furniture and household equipment fell the most by 11%. Meanwhile, sales of motor vehicles increased the most, rebounding by 4.8% in July.
This was followed by 3.9% recovery in sales of optical goods and books and 2.5% rebound in sales of telecommunication apparatus and computers.
Sales of food & beverage services (seasonally adjusted) decreased 0.7% in July 2014 compared to the previous month.
Retail sales of wearing apparel & footwear, medical goods & toiletries,mini-marts & convenience stores andpetrol service stations decreased between 1.2% and 4.9% over the same period.
Year-over-year, retail sales rose 5.5% in July, following 0.4% rebound in June.
Retail sales of furniture & household equipment, recreational goods, watches & jewellery, mini-marts & convenience stores, telecommunications apparatus & computers, wearing apparel & footwear and optical goods & books decreased between 1.0% and 6.5% in July 2014 over same month last year.
In contrast, sales of food & beverage services fell 1.6% in July 2014.